Mobility fintech Naran has raised $10 million in combined equity and debt financing from UAE-based investment firm Landel as it expands across Latin America and Africa. The funding will support fleet growth in Colombia, Peru, Senegal, and Côte d’Ivoire, alongside planned expansion into MENA and the rollout of additional fintech products.

Founded in 2025 by former Yango executives Bayaskhalan Alexeev and Alexander Gubarev, Naran provides rent-to-own financing for cars and motorcycles to ride-hailing and delivery drivers. The company purchases vehicles directly from manufacturers and works with platforms including Yango and inDrive to put more drivers on the road.

The Vehicle Is Only the Beginning

Naran’s model goes beyond financing a vehicle. Each contract creates repayment data that can help establish a formal financial history for drivers who may have limited access to traditional credit.

The company operates its own fleet management system across its markets, covering driver onboarding, payment scheduling, utilisation, telematics, and maintenance. This gives Naran visibility into both the financed asset and the revenue generated through it.

That combination is central to its broader fintech ambition: using real assets and repayment data as the foundation for additional financial products in emerging markets.

Turning Fleet Infrastructure Into a Platform

Naran also plans to make its technology available to third-party fleet operators. The company intends to offer fleet management software, automation tools, and asset-backed financing, while potentially acquiring operators where the economics make sense.

The approach could allow Naran to serve an expanding mobility ecosystem rather than relying solely on its own fleet. By 2030, the company aims to operate across 10 countries, create 30,000 income opportunities, and deploy 10,000 cars and 20,000 motorcycles.

Key takeaways for fintech startups

Naran shows how fintech can be built around productive physical assets rather than financial products alone. Key lessons include:

• Asset-backed financing can create opportunities where traditional credit models fall short.
  
  
• Operational data can become a valuable financial asset.
  
  
• Fintech platforms can expand by serving the wider ecosystem around their original product.

As fintech moves deeper into emerging-market infrastructure, the strongest opportunities may sit where finance, technology, and real-world assets intersect. Contact us to explore how Your Fintech Story can support your fintech strategy and growth.